Daily iron ore price update (stagflation bid)

The ferrous complex was up on Friday May 29, 2022:

Ferrous markets continue to trade correlated to broader commodity trends over fundamentals which are still getting worse. Night sessions in Dalian trade when US markets are open are driving furious price movements.

MySteel indexes last week were awful:

Coal consumption is smashed:

Key construction inputs are piling up all over:

None of it matters. The financialisation bid on stagflation fears is everything and was just intensified by the hope that the Fed will pause and China reopen without a hitch.

Houses and Holes
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